Ripple expands into Chile

by | Jul 28, 2019

It wasn’t long ago that Ripple officially launched its Brazil operations, having appointed seasoned fintech entrepreneur and executive Luiz Antonio Sacco as managing director to drive strategy and build the Ripple ecosystem in the region. One of the team’s goals was to “grow its customer base in Brazil, and across South America including in countries such as Chile, Peru and Argentina”.

A month and a half later, Chilean money transfer company CurrencyBird announced that it has now joined Ripplenet. According to the announcement:

Currency Bird is the first transfer company in Chile to join the global network of Ripple, of which recognized institutions such as Banco Santander, Standard Chartered Bank, Banco Itaú, American Express and MoneyGram are already part. Ripple is a platform that, through its products based on blockchain technology, delivers solutions to financial institutions to make the experience of transferring money more expeditious and reliable.
The addition to Ripple Net will bring many benefits for the more than
12,000 Currency Bird customers, as it will allow the company to add new routes to its more than 50 destinations, new currencies, better prices and faster transfer speeds, all using the technology developed by Ripple based on blockchain, which allows the transfer of digital data with sophisticated and secure coding.
“Being part of this worldwide network supports the work we have been doing since 2015, as an enterprise supported by Corfo, to offer our more than 12 thousand clients
simple, safe, transparent and low-cost international transfers,” explains Teófilo de la Cerda, founder and CEO of Currency Bird.
The agreement with Ripple was finalized in March 2019 and as of July this year it is operational through the platform

The news were also shared on twitter:

Translation: CurrencyBird is the first transfer company in Chile that joins the growing global network RippleNet.

About CurrencyBird:
CurrencyBird SpA is a company formed in May 2015 in Santiago, Chile and its main purpose is international transfers through electronic payments.
The purpose of the business is to optimize international transfers that originate from a bank account in Chile to a bank account abroad.
Its range of clients includes Chileans studying abroad, Chileans living abroad, foreigners residing temporarily or in Chile and companies with foreign trade needs and payment of remuneration or services.

Credit to ⁶Sensə (@Sev3nSouL twitter handle) for the find.